MIRA
INFORM REPORT
|
Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ONDULIT ITALIANA S.P.A. |
|
|
|
|
Registered Office : |
Via Portuense, 95/E, 00100 – Roma (RM) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
14.01.1957 |
|
|
|
|
Com. Reg. No.: |
RM-2001-302394 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturer of paints, varnishes and similar coatings, printing ink and synthetic adhesives |
|
|
|
|
No. of Employees : |
71 to 90 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
iTALY ECONOMIC OVERVIEW
Italy has a
diversified industrial economy, which is divided into a developed industrial
north, dominated by private companies, and a less-developed, highly subsidized,
agricultural south, where unemployment is high. The Italian economy is driven
in large part by the manufacture of high-quality consumer goods produced by
small and medium-sized enterprises, many of them family-owned. Italy also has a
sizable underground economy, which by some estimates accounts for as much as
17% of GDP. These activities are most common within the agriculture,
construction, and service sectors. Italy is the third-largest economy in the
euro-zone, but its exceptionally high public debt and structural impediments to
growth have rendered it vulnerable to scrutiny by financial markets. Public
debt has increased steadily since 2007, topping 126% of GDP in 2012, and
investor concerns about the broader euro-zone crisis at times have caused
borrowing costs on sovereign government debt to rise to euro-era. During the
second half of 2011 the government passed three austerity packages to reduce
its budget deficit and help bring down borrowing costs. These measures included
a hike in the value-added tax, pension reforms, and cuts to public
administration. The government also faces pressure from investors and European
partners to sustain its recent efforts to address Italy's long-standing
structural impediments to growth, such as labor market inefficiencies and
widespread tax evasion. In 2012 economic growth and labor market conditions
deteriorated, with growth at -2.3% and unemployment rising to nearly 11%, with
youth unemployment around 35%. The government has undertaken several reform initiatives
designed to increase long-term economic growth. Italy's GDP is now 7% below its
2007 pre-crisis level.
|
Source : CIA |
Company name & address
Ondulit Italiana S.p.A.
Via Portuense, 95/E
00100 - Roma (RM) -IT-
Summary
|
Fiscal Code |
: |
00421530585 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
17/12/1981 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
20.000.000/25.000.000 |
|
Number of Employees |
: |
from 71 to 90 |
Activity
Manufacture of paints, varnishes and similar
coatings, printing ink
and synthetic adhesives
Manufacture of plastic producst for the
building industry
Manufacture of cement, lime and plaster
Manufacture of concrete products for the
building industry
Cold forming or folding
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 00421530585 |
|
Foreign Trade Reg. no. : LT000341 since
28/02/1992 |
|
Foreign Trade Reg. no. : 341 of since
28/02/1992 |
|
Chamber of Commerce no. : 20721 of since
14/01/1957 |
|
Chamber of Commerce no. : 1121796 of |
|
Chamber of Commerce no. : 213107 of since
31/10/1958 |
|
Chamber of Commerce no. : 86429 of since
03/02/2004 |
|
Firms' Register : RM-2001-302394 of since
18/12/2001 |
|
Firms' Register : RM-2001-302394 of |
|
V.A.T. Code : 00886811009 |
|
Tribunal Co. Register : 2111 of |
|
Foundation date |
: 14/01/1957 |
|
|
Establishment date |
: 14/01/1957 |
|
|
Start of Activities |
: 17/12/1981 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 3.000.000 |
|
|
Subscribed Capital |
: 3.000.000 |
|
|
Paid up Capital |
: 3.000.000 |
|
Members
|
|
Andreoli |
Federico |
|
|
|
Born in Roma |
(RM) |
on 09/10/1940 |
- Fiscal Code : NDRFRC40R09H501A |
|
|
|
Residence: |
|
Portuense |
, 95/E |
- 00153 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
08/11/1972 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Andreoli |
Ignazio |
|
|
|
Born in Roma |
(RM) |
on 05/08/1942 |
- Fiscal Code : NDRGNZ42M05H501O |
|
|
|
Residence: |
|
Portuense |
, 95/E |
- 00153 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
08/11/1972 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Andreoli |
Francesco |
|
|
|
Born in Roma |
(RM) |
on 27/07/1943 |
- Fiscal Code : NDRFNC43L27H501J |
|
|
|
Residence: |
|
Mecenate |
, 22 |
- 00184 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
08/11/1972 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Andreoli |
Stefano |
|
|
|
Born in Roma |
(RM) |
on 18/07/1939 |
- Fiscal Code : NDRSFN39L18H501F |
|
|
|
Residence: |
|
Di Priscilla |
, 60 |
- 00199 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
08/11/1972 |
|
|
|
Director |
27/06/2012 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Vadacca |
Giorgio |
|
|
|
Born in Valenza |
(AL) |
on 04/09/1944 |
- Fiscal Code : VDCGRG44P04L570R |
|
|
|
Residence: |
|
Monte Santo |
, 22 |
- 00046 |
Grottaferrata |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/06/2012 |
|
|
|
|
No Protests
registered |
|
|
Andreoli |
Alberto |
|
|
|
Born in Roma |
(RM) |
on 20/11/1967 |
- Fiscal Code : NDRLRT67S20H501W |
|
|
|
Residence: |
|
Giovanni Penta |
, 21 |
- 00157 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/06/2012 |
|
|
|
Board Chairman |
27/06/2012 |
|
|
|
Managing Director |
27/06/2012 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Meluzzi |
Nicola |
|
|
|
Born in Roma |
(RM) |
on 16/11/1972 |
- Fiscal Code : MLZNCL72S16H501S |
|
|
|
Residence: |
|
Leprignano |
, 34 |
- 00191 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/06/2012 |
|
|
|
Procurator |
24/07/2012 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Sebastiani |
Giovanni |
|
|
|
Born in Roma |
(RM) |
on 08/09/1968 |
- Fiscal Code : SBSGNN68P08H501Z |
|
|
|
Residence: |
|
Rita Tonoli |
, 5 |
- 20145 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/06/2012 |
|
|
|
|
No Protests
registered |
Companies connected to members *
*checkings have been performed on a national
scale.
In this module are listed the companies in
which members hold or have holded positions.
|
|
Andreoli |
Alberto |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Energie Nuove Societa A Responsabilita
Limitata |
Roma (RM) - IT - |
09700461008 |
Director |
Active |
Registered |
|
Sport Village Bologna Societa'
SportivaDilettantistica S.r.l. |
Bologna (BO) - IT - |
02675001206 |
Director |
Active |
Registered |
The indication "REGISTERED" as
Firm Status could refer to Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we
advise to request further investigations.
Capital Shareholders
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Finalgan s.r.l. |
Roma - IT - |
04636280580 |
1.500.000 .Eur |
50,00 |
|
Afile s.r.l. |
Roma - IT - |
04636300586 |
1.500.000 .Eur |
50,00 |
Direct Participations
The Company under review has participations
in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
Ceap - Consorzio Energia Ambiente Prato
S.c.r.l. |
Roma - IT - |
02075380978 |
4.000 .Eur |
10,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
|
since 14/01/1957 |
|
|
|
|
|
|
Portuense |
, 95/E |
- 00100 |
- Roma |
(RM) |
- IT - |
|
|
|
|
TELEX |
: 620803 |
|
|
|
|
PHONE |
: 0658330880 |
|
|
|
|
FAX |
: 065812977 |
|
- |
Branch |
(Factory) |
since 14/11/2003 |
|
|
|
|
|
|
Ortana Vecchia |
, SNC |
- 05035 |
- Narni |
(TR) |
- IT - |
|
|
|
|
PHONE |
: 0658330880 |
|
|
|
|
FAX |
: 065812977 |
|
- |
Branch |
(Office) |
since 01/02/1983 |
|
|
|
|
|
|
Gozzano Guido |
, 3 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
- |
Branch |
(Factory) |
since 30/11/2001 |
|
|
|
|
|
|
Appia Nuova Km 49,300 |
- 04012 |
- Cisterna di Latina |
(LT) |
- IT - |
|
|
|
|
PHONE |
: 0658330880 |
|
- |
Branch |
(Store) |
since 31/10/1958 |
|
|
|
|
|
|
Di Vigna Girelli |
, 38 |
- 00100 |
- Roma |
(RM) |
- IT - |
|
|
|
|
Employees |
: 71 |
|
Fittings and Equipment for a value of
4.420.000 |
Eur |
|
Stocks for a value of 6.160.000 |
Eur |
|
Furniture and fittings for a value of
45.000 |
Eur |
|
Vehicles for a value of 83.000 |
Eur |
Sales are on an international scale.
|
|
The firm operates abroad as importer /
exporter..
Export represents up to 20% of the global
turnover.
Products abroad are placed by :
|
- its own sales net-work |
|
- its own agents |
Import comes generally from the following
nations:
|
- Austria |
Historical Information and/or Firm's Status
CHANGES TO THE
LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
General partnership |
Limited liability company |
|
|
De facto company |
General partnership |
12/10/1957 |
|
General partnership |
Limited liability company |
28/12/1967 |
|
Limited liability company |
Joint stock company |
12/03/1980 |
EX-MEMBERS /
EX-POSITIONS:
|
|
Andreoli |
Federico |
|
|
|
Born in Roma |
(RM) |
on 09/10/1940 |
- Fiscal Code : NDRFRC40R09H501A |
|
|
|
Residence: |
|
Portuense |
, 95/E |
- 00153 |
Roma |
(RM) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Andreoli |
Ignazio |
|
|
|
Born in Roma |
(RM) |
on 05/08/1942 |
- Fiscal Code : NDRGNZ42M05H501O |
|
|
|
Residence: |
|
Portuense |
, 95/E |
- 00153 |
Roma |
(RM) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Andreoli |
Stefano |
|
|
|
Born in Roma |
(RM) |
on 18/07/1939 |
- Fiscal Code : NDRSFN39L18H501F |
|
|
|
Residence: |
|
Di Priscilla |
, 60 |
- 00199 |
Roma |
(RM) |
- IT - |
|
Ex-Postions |
|
Chairman |
|
Managing Director |
|
Board Chairman |
|
Managing Director |
|
|
Feliziani |
Claudio |
|
|
|
Born in ROMA |
(RM) |
on 09/06/1960 |
- Fiscal Code : FLZCLD60H09H501Z |
|
|
|
Residence: |
|
GIUSEPPE ARMONDI |
, 52 |
- 00100 |
Roma |
(RM) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
Protests
Protests checking on the subject firm has
given a negative result.
Data Base Prejudicial Events
Search
Search performed on a National Scale
|
|
|
Prejudicial
Events Search Result: NEGATIVE |
Search performed on a specialized data base.
Legal Procedures
None reported, standing to the latest
received edition of the Official Publications.
Financial and Economical Analysis
Company's starting of activities dates back
to 1981.
The economic-financial analysis has been
made on the base of the b/s of the latests three years.
Under the financial profile unstable results
are noted. with a negative economic result in the last financial year. In the
last financial year a drop in sales has been registered (-34,07%).
A loss is registered as to the operating
result (-6,34%).
The amount of the operating loss for 2011 is
equal to Eur. -2.018.836.
The gross operating margin for the fiscal
year 2011 is negative, for an amount of Eur. -512.882.
The company has an excellent net worth if
compared to its debts, with a low indebtedness (0,36) lower than in 2010.
The equity capital is equal to Eur.
20.357.093 on the same levels as the year before.
During the last financial year total debts
volume reached Eur. 10.468.032 (Eur. 1.902.417 were m/l term ones) , a more or
less stable value.
Bank and suppliers credit recourse is
limited, 86,82 gg. is payment average period below the sector's average.
The management determines a good range of
liquidity.
Trade credits are collected slowly, average
term is 146,03 days. but on the same levels as the average of the sector.
(Eur. -582.260) is the negative value of the
cash flow.
In the last financial year labour cost was
of Eur. 3.539.818, with a 13,29% incidence on total costs of production. ,
whereas the incidence on sales revenues is of 14,63%.
If compared to the sales volume (-0,29%),
the impact of the financial charges is limited.
Financial
Data
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
24.189.487 |
|
Profit (Loss) for the period |
-2.088.214 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
36.690.750 |
|
Profit (Loss) for the period |
1.534.011 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
23.322.086 |
|
Profit (Loss) for the period |
65.985 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
21.440.472 |
|
Profit (Loss) for the period |
152.485 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
22.804.950 |
|
Profit (Loss) for the period |
297.554 |
Balance
Sheets
From our constant monitoring of the relevant
Public Administration offices, no more recent balance sheets result to have
been filed.
|
- Balance Sheet
as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2009 - 12 Mesi - Currency: - Amounts x 1 |
|
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|
|
RATIOS |
Value
Type |
as at 31/12/2011 |
as at 31/12/2010 |
as at 31/12/2009 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,42 |
0,37 |
0,36 |
0,31 |
|
Elasticity Ratio |
Units |
0,57 |
0,63 |
0,64 |
0,68 |
|
Availability of stock |
Units |
0,19 |
0,19 |
0,25 |
0,15 |
|
Total Liquidity Ratio |
Units |
0,38 |
0,43 |
0,39 |
0,46 |
|
Quick Ratio |
Units |
0,04 |
0,04 |
0,08 |
0,01 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,36 |
0,43 |
0,23 |
2,79 |
|
Self Financing Ratio |
Units |
0,64 |
0,62 |
0,65 |
0,21 |
|
Capital protection Ratio |
Units |
0,96 |
0,80 |
0,85 |
0,78 |
|
Liabilities consolidation quotient |
Units |
0,32 |
0,27 |
0,59 |
0,18 |
|
Financing |
Units |
0,51 |
0,57 |
0,50 |
3,36 |
|
Permanent Indebtedness Ratio |
Units |
0,72 |
0,70 |
0,78 |
0,38 |
|
M/L term Debts Ratio |
Units |
0,09 |
0,08 |
0,13 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
0,06 |
0,05 |
0,09 |
0,77 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,71 |
1,87 |
2,18 |
1,25 |
|
Current ratio |
Units |
2,13 |
2,10 |
2,89 |
1,13 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,41 |
1,45 |
1,78 |
0,82 |
|
Structure's primary quotient |
Units |
1,50 |
1,66 |
1,81 |
0,73 |
|
Treasury's primary quotient |
Units |
0,15 |
0,12 |
0,34 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
156,49 |
162,00 |
154,44 |
458,55 |
|
Current Capital ( net ) |
Value |
9.668.918 |
11.926.477 |
13.540.712 |
189.902 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
-2,41 |
7,51 |
5,40 |
3,49 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-10,26 |
6,83 |
0,32 |
2,02 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-10,04 |
9,72 |
1,63 |
7,28 |
|
Return on Investment ( R.O.I. ) |
% |
-6,34 |
5,04 |
2,11 |
2,90 |
|
Return/ Sales |
% |
-8,35 |
5,00 |
2,92 |
3,07 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
83,66 |
9,68 |
19,70 |
|
Cash Flow |
Value |
-582.260 |
2.755.961 |
1.258.597 |
130.900 |
|
Operating Profit |
Value |
-2.018.836 |
1.833.667 |
681.766 |
105.471 |
|
Gross Operating Margin |
Value |
-512.882 |
3.205.617 |
1.874.378 |
246.352 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
146,03 |
133,32 |
150,33 |
142,92 |
|
Debts to suppliers average term |
Days |
86,82 |
77,63 |
56,17 |
136,10 |
|
Average stock waiting period |
Days |
91,75 |
68,93 |
123,36 |
57,45 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,76 |
1,01 |
0,72 |
0,89 |
|
Rate of stock return |
Units |
3,92 |
5,22 |
2,92 |
6,21 |
|
Labour cost incidence |
% |
14,63 |
8,87 |
11,11 |
14,61 |
|
Net financial revenues/ charges incidence |
% |
-0,29 |
0,87 |
-1,77 |
-1,61 |
|
Labour cost on purchasing expenses |
% |
13,29 |
9,26 |
11,42 |
14,23 |
|
Short-term financing charges |
% |
0,94 |
n.c. |
4,15 |
2,69 |
|
Capital on hand |
% |
131,70 |
99,10 |
138,47 |
112,27 |
|
Sales pro employee |
Value |
219.904 |
509.593 |
388.701 |
241.471 |
|
Labour cost pro employee |
Value |
32.180 |
45.225 |
43.169 |
33.141 |
Market / Territory Data
|
Population living in the province |
: |
3.807.992 |
|
Population living in the region |
: |
5.269.972 |
|
Number of families in the region |
: |
2.091.220 |
Monthly family expenses average in the
region (in Eur..) :
|
- per food products |
: |
472 |
|
- per non food products |
: |
1.832 |
|
- per energy consume |
: |
102 |
Sector Data
The values are calculated on a base of 936
significant companies.
The companies cash their credits on an
average of 143 dd.
The average duration of suppliers debts is
about 136 dd.
The sector's profitability is on an average
of 3,49%.
The labour cost affects the turnover in the
measure of 14,61%.
Goods are held in stock in a range of 57 dd.
The difference between the sales volume and
the resources used to realize it is about 0,89.
The employees costs represent the 14,23% of
the production costs.
Statistical Detrimental Data
Statistically the trade activity shows
periods of crisis.
The area is statistically considered
moderately risky.
In the region 53.924 protested subjects are
found; in the province they count to 34.465.
The insolvency index for the region is 1,04,
, while for the province it is 0,92.
Total Bankrupt companies in the province :
31.914.
Total Bankrupt companies in the region :
37.442.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
UK Pound |
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.